SES SA FDR (Class A) · EURONEXT:SESG
SES SA FDR (Class A) — SES Global — Q3 2005 Earnings Presentation
10 slides from SES SA FDR (Class A)'s earnings presentation, Nov 7, 2005
Slide 1: Q3 2005 Results
Q3 2005 Results 7 November 2005 – slides 3, 5, 6 amended to correct erratum
Slide 2: Disclaimer
Disclaimer • This presentation does not constitute or form part of, and should not be construed as, any offer for sale of, or solicitation of any offer to buy, any securities of SES GLOBAL S.A. (“SES GLOBAL”) nor should it or any part of it form the basis of, or be relied on in connection with, any
Slide 3: Highlights
Highlights • Total Q3 Revenues of EUR 313m (2004: EUR 259m) − 21% ahead of the prior period − YTD 13% rise driven by 12.5% recurring organic growth and by newly acquired service businesses • Q3 EBITDA of EUR 216m (2004: EUR 196m), up 10% • Q3 Net Profit increased to EUR 108m (2004: EUR 73m), up 48%
Slide 4: Commentary
Commentary • SES continues on its double digit revenue growth path • Management team fully focused on the development of the business • Financial strength to deliver shareholder value − further investment in growth opportunities • seven satellites in procurement • commercial launch of new services i
Slide 5: YTD Revenues
YTD Revenues MEUR 20.6% 13.2% vs ytd Q3 2004 12.5% 922 904 843 61 18 815 (60) 750 93 (5) Actual ytd Non- Constant FX Actual ytd Core Actual ytd Service Actual ytd Non- Actual ytd Q3 2004 recurring / Scope Q3 2004 business Q3 2005 business Q3 2005 recurring Q3 2005 (as (IFRS) 2004 change (recurring,
Slide 6: YTD EBITDA
YTD EBITDA MEUR 13.6% 8.2% vs ytd Q3 2004 12.0% 654 627 636 604 9 18 67 560 (25) (19) Actual ytd Non- Constant FX Actual ytd Core Actual ytd Service Actual ytd Non- Actual ytd Q3 2004 recurring / Scope Q3 2004 business Q3 2005 business Q3 2005 recurring Q3 2005 (as (IFRS) 2004 change (recurring, (re
Slide 7: EBITDA Margin split
EBITDA Margin split • Infrastructure EBITDA margin was 80.5% − set to remain around 80% • Services EBITDA was accretive − margin will improve from this level − additionally, these services activities generate incremental infrastructure revenues (MEUR) Infrastructure Services Other/Elimination Total
Slide 8: Capital expenditure – Satellites under construction
Capital expenditure – Satellites under construction 1)2)3) MEUR 506 ~420 ~340 ~150 ~50 Guidance in August 2005: ~490 ~220 ~170 ~60 439 276 246 143 143 95 67 40 9 8 A 2004 FC 2005 B 2006 T 2007 T 2008 SES Astra SES Americom • CapEx is forecasted to decrease in 2005 versus previous guidance (shift of
Slide 9: Modelling Guidance
Modelling Guidance • Revenues − double-digit recurring revenue growth in 2005 & 2006 − high single-digit percentage revenue growth in 2007 − this will result in a double digit CAGR for the period 2005-2007 − additional revenue will be generated in 2005 onwards from newly acquired service businesses
Slide 10: Summary
Summary • SES has continued to build its business in the quarter • New and renewal transponder contracts signed • Improving visibility on timing of HDTV rollout • Expansion of services activities • Enhancing balance sheet efficiency • Delivering shareholder value 10